Wednesday, 12 March 2008

Tri-City Fund Raiser, Part 2

Baseball Stocksellers To Push Drive
Campbell Calls Meet; Tells Time-Pay Plan
[Tri-City Herald, Jan. 3, 1953]
The lagging drive to raise money to buy the Tri-City Braves will be given a strong push Tuesday when nearly 175 “stocksellers” for the Tri-City Athletic association begin a four-day drive to raise the money.
The group will be headed by Kit Campbell, chain store owner and member of the association board. Campbell, who has formulated a time payment plan will meet with his 15 captains and all others interested Monday night in the Roundup room of the Desert Inn. The meeting is from 6:05 to 6:55 p.m.
Campbell outlined his plans for raising the money Saturday.
He has written 175 persons whose names he has taken from the Tri-City Booster club pledge sheets. Most of the 175 are from Richland but some are from Kennewick.
The group will be divided into teams of 20 persons each. Each team will be headed by a captain who will report daily on his team's efforts.
Each stock seller will be given a brochure containing information pertaining to the stock, in addition the stock sellers will have a receipt book for those who wish to pay cash.
However, through a system of bank drafts, 90-day, six-month and twelve-month payment plans will be offered.
Campbell feels that if each team member is able to sell two other perssons besides himself, the drive will raise enough money to buy the club and provide operating capital.
The Tri-City Booster club, which has been conducting the money-raising end, has about $12,000 in the till. It is estimated that a total of $45,000 will be needed to buy the club and have enough money to field a team.
Campbell emphasized that his drive aimed primarily at Richland, is not limited to the Atomic City. He urged all those interested in keeping baseball in the Tri-Cities to come to the Monday meeting.
He said that fans in Pasco and Kennewick could either join his drive or slart one of their own.
“This is a community thing,” Campbell said. “I can show them where they can make money but aside from that, we not only need the ball club here for all three of the cities, but we need a place for other athletic events as well.”
“Those who buy this stock will be making an investment in the community. The more stock we can sell, the better.”
Campbell made his plans after a recent association board meeting in which it was decided to delay the hiring of a manager until the aciual purchase of ihe club is made to buy the club.
Campbell said he went home after the meeting and decided he would start a one-man crusade.
Campbell footed the bill for sending out the letters and renting the meeting place.
He said “When ever something like this comes up, we always tend to look at the other guy. But I decided to start myself and it doesn't work, there won't be any one to blame but me.”
However, Campbell is confident that the drive will be a success.

Sports Notes
By Gil Gilmore [Herald, Jan. 9, 1953]
Kit Campbell who is heading the drive in Richland to sell athletic association gtock said one of the troubles his salesmen have encountered is that many persons do not understand they are buying stock in a corporation.
“In fact, some of them do not seem to understand how a corporation comes into being,” Kit says. Well, this particular section of the paper is not usually devoted to reports from Merrill, Lynch, Pierce, Fenner and Beane but here is a rough lessen in the formation of a corporate business.
When a group of persons decides to go into, business, they first must have some cash for capital equipment—buildings, machinery, etc. Since the promoters would probably not have the necessary money, they would either borrow it or bring ohers into the firm by the sale of stock.
The sale of stock is governed by laws, both state and national, and the first job is to get an okay from the state to put the stock on the market. When the promoters request an okay, they must state how much stock they intend to sell and how much they will charge for each share.
Assuming they have the okay. The firm then starts the sale of stock. When they have sold enough to buy at least some equipment, the firm starts functioning as a business. If the business profits, it will expand and pay a profit to the persons who bought stock.
If the business is unable to ride out the period necessary to get started, it will flop and the investors who bought stock will lose their money.
Things aren't too much different; when investing in the Tri-City Athletic association. Instead of machinery, you need players. Instead of buildings, you need a ball park.
Actually the present stockselling drive is merely a continuation of the drive conducted here three years ago. At that time, the local group went through the procedure of getting state permission and selling stock. They figured that 100,000 shares at $1 a share would do the job but they were unable to meet their goal.
If they had the association would have bought a learn and the park then. As it turned out, they could only buy one-seventh of a team and had to issue bonds (borrow money) to buy the park.
But the stock they didn't sell three years ago, some 36,000 at $1 a share, is what Campbell and his captains are trying to sell now.
Campbell and a lot of others are confident that the association can make a profit. They blame the situation of last year on “poor management.” If the drive is put across, the “poor management” will be replaced.
Campbell emphasizes the investment is not charity. At the meeting the other night, he gave these estimates to his team captains.
From signs around the field ........... $ 8,000
Radio contract .......................... $ 4,000
Concessions ............................. $12,000
Ticket sales ............................. $65,000
Box rents ................................ $ 3,000
Totals .................................... $88,000
18 Players' salaries at $400 a month .. $40,000
Travel .................................... $15,000
Equipment ............................... $10,000
Miscellaneous ............................ $15,000
Total ...................................... $80,000
Campbell's ticket sales figure is based on an estimate of 80,000 sold in a year. He concedes his figures are estimates but he says if anything “They are on conservative side.”
Now you may ask what happens if the attendance doesn't reach Campbell's esimiate of 80,000 a year? That is a possibility but the best insurance against it is to have a winning ball club. And the best way to produce a winner is have good players and that takes capital. Hence the desire to sell the stock.
Although the Braves and Class A baseball is the No. 1 program of the Tri-City Athletic association the group has several other plans in mind that may bring in additional revenue. For example, when Gorgeous George rassled here last summer, someone must have made something. If he comes again, it could just as well be the association.
Rassling is one thing that has gone over big just about everywhere else and promoters have tried to come in here from time to time. The major problem has always been lack of an adequate place. Nothing can be done for the winter months but Sanders field is the most satisfactory for the summer.
There are other angles that can be considered. Some of them will bring financial return to the association investors—others are civic in nature. But all are reasons for investing and building the association into a financially strong organization.

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